Stronghold Wealth Management L.L.C. acquired a new position in BNY (NYSE:BK – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,930 shares of the bank’s stock, valued at approximately $456,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ransom Advisory Ltd grew its holdings in BNY by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after purchasing an additional 85 shares during the period. Mather Group LLC. grew its stake in shares of BNY by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after acquiring an additional 86 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of BNY by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after acquiring an additional 94 shares during the last quarter. Vectors Research Management LLC grew its stake in shares of BNY by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock worth $1,507,000 after acquiring an additional 94 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of BNY by 2.6% in the third quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock worth $414,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.
Insiders Place Their Bets
In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by corporate insiders.
BNY Trading Down 0.1%
BNY (NYSE:BK – Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm posted $1.58 earnings per share. BNY’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that BNY will post 8.78 EPS for the current year.
BNY Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. BNY’s dividend payout ratio (DPR) is 26.27%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on BK. Truist Financial increased their target price on BNY from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Royal Bank Of Canada increased their target price on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods increased their target price on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Barclays increased their price target on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Citigroup initiated coverage on shares of BNY in a report on Monday, February 23rd. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.08.
View Our Latest Stock Report on BK
BNY Profile
BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.
BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.
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